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KPI Green Energy soars on completing acquisition of remaining 0.10% stake in KPark Sunbeat
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KPI Green Energy is currently trading at Rs. 1358.95, up by 37.75 points or 2.86% from its previous closing of Rs. 1321.20 on the BSE.
The scrip opened at Rs. 1329.90 and has touched a high and low of Rs. 1360.00 and Rs. 1301.35 respectively. So far 2677 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1413.70 on 13-Dec-2023 and a 52 week low of Rs. 378.48 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 1413.70 and Rs. 1155.60 respectively. The current market cap of the company is Rs. 5090.80 crore.
The promoters holding in the company stood at 54.83%, while Institutions and Non-Institutions held 4.24% and 40.92% respectively.
KPI Green Energy has completed the acquisition of remaining 0.10% stake in KPark Sunbeat on December 16, 2023. Accordingly, KPark has become Wholly Owned Subsidiary of the Company. The Company is already holding 99.90% stake in KPark.
The object of acquisition of the share of the KPark is to consolidate solar power projects of the KP Group under single entity i.e., KPI Green Energy in order to achieve benefits of scale. This will enable the Company to dynamically allocate the resources in the best possible ways and achieve the ambitious target to touch combined renewable energy capacity of 1,000 MW by 2025. The acquisition of the above KPark is an enabler for efficient reorganization of renewable energy businesses which may be pursued in future.
KPI Green Energy (formerly known as K.P.I. Global Infrastructure) is a solar power generating company focused on providing solar power, both as an Independent Power Producer (IPP) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (CPP) customers.
